Tuesday, October 11, 2016

I've lived in the UK a couple of times, and the pound was basically (as it pretty much has been for years) between $1.53-1.63.

Keep plunging so I can retire in Scotland.

A lot of the talk about Brexit has weirdly been about the instant economic reaction, I think a bit too much seeing the economy as Teh Markets which can react instantly to expected future events, as opposed to the real economy which reacts a bit more slowly to such things and of course reacts more strongly to actual events. Brexit hasn't even happened yet! And I still think that the consequences will be much more about a transformation (for the worse) of society generally rather than a big economic hit.

Still poor governance of all kinds will impact the economy, and right now the UK is extremely poorly governed.